Business

Mexico-based Plerk raises $1 million from Magma Partners to expand in the region

The fintech/HR startup works with a virtual card for corporate flexible benefits and services

Photo: Screenshot/Plerk website

Out of Y Combinator, the Guadalajara-based fintech/HR startup Plerk raised $1 million from Magma Partners, 500 Startups, Y Combinator itself, Peak Capital, Horseplay Ventures and MGV Capital Group.

Founded by former Rappi employees Miguel Medina and Angel Arias, and former Banregio LabsAntonio Martínez, Plerk helps companies give their employees better benefits. As noticed by Magma Partners, the idea for Plerk originated as a virtual card to pay for flexible benefits and services. As LABS has shown, remote work accentuated the demand for flexible corporate benefits.

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With Plerk, companies allocate funds for their employees who can choose from over 5,000,000 e-commerce vendors worldwide to spend the money on.

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